Merriman seeking money from former Duke hoop stars
By Brent Schrotenboer, UNION-TRIBUNE STAFF WRITER
Tuesday, August 10, 2010 at 5:50 p.m.
While his holdout from Chargers training camp continues, linebacker Shawne Merriman has had other matters to deal with. This week it was an ongoing dispute in federal court with former Duke basketball players Christian Laettner and Brian Davis.
On Monday, Merriman filed an affidavit in Maryland that said Laettner and Davis’ company, BD Ventures, owes him $3.64 million, plus $998.76 per day in interest. The amount stems from a loan Merriman and his company, S.M. Real Estate, made to the former Blue Devils’ company in 2007. The loan was to be fully repaid in March 2009, but Merriman, who played at the University of Maryland, sued them in federal court in April 2009, saying he wasn’t repaid as promised.
Merriman’s affidavit this week reasserts what he says is owed to him as part of a request to the judge to make a summary judgment in his favor.
Under terms of the deal, Merriman was to receive rights in Laettner and Davis’ real estate and business ventures. Merriman has asked a federal judge to award him a 10 percent interest in real estate projects in Atlanta , Baltimore and Durham, N.C, according to his contract with BD Ventures. If those projects fail, Merriman's affidavit says he has the right to convert them into interests in the former Blue Devils' other projects. Laettner and Davis have been hit by multiple suits related to unpaid bills.
In deposition testimony in April, Laettner was asked about Merriman. Laettner said, “I know that we owe him money” and “we haven’t been able to pay him.”
“Why not?” Laettner was asked by an attorney for Merriman.
“Because there’s not enough money available in the business to pay him back,” Laettner responded, according to a transcript.
“Why not?” the attorney asked again.
“That’s a good question,” Laettner responded in the transcript. “I think the economy has a lot to do with it.”